Jacobs Levy Equity Management Inc. Cuts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Jacobs Levy Equity Management Inc. reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,115 shares of the software maker's stock after selling 7,757 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.08% of Manhattan Associates worth $12,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates during the fourth quarter worth about $25,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates in the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates in the fourth quarter worth $35,000. Transce3nd LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $41,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $72,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MANH has been the topic of several recent research reports. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Citigroup reduced their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Loop Capital reiterated a "hold" rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. Finally, Robert W. Baird lowered their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Manhattan Associates presently has an average rating of "Moderate Buy" and a consensus target price of $205.57.

Manhattan Associates Stock Performance

NASDAQ MANH traded up $1.39 during trading hours on Friday, hitting $194.49. The company had a trading volume of 451,024 shares, compared to its average volume of 583,332. The business has a 50 day moving average of $171.82 and a 200-day moving average of $224.46. The company has a market cap of $11.81 billion, a PE ratio of 55.41 and a beta of 1.13. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

Insider Activity at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company's stock.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.